Juno ❤️ $DAO

DAO DAO is a DAO that builds next-generation Interchain governance tooling. With DAO DAO, projects have immediate access to best-in-class DAO tooling without creating their own governance modules, smart contracts, DAO management and more.

You can use it on Juno today! https://daodao.zone

We propose a token swap between DAO DAO and Juno. DAO DAO is offering 1,100,002.7 $DAO (10% of total supply, over 50% of liquid supply) in exchange for 500,000 $JUNO (~3.28% of current Community Pool funds). The tokens shall vest linearly, with a fixed amount unlocking every block, over two years. These funds will support and accelerate the future development of DAO DAO. DAO DAO will stake these tokens with a diverse set of validators as determined by the DAO DAO DAO, excluding the DAO DAO validator.

The $DAO tokens will allow the Juno community to vote on how funds should be used, as well as on the future direction of DAO DAO. After this token swap is completed, Juno will own the largest share of liquid $DAO tokens, giving it substantial influence over the future direction of DAO DAO.

$DAO tokens from the swap will go to the Juno Growth Fund SubDAO, to be managed by them until otherwise directed by the Juno community. The JGF will actively participate in DAO DAO governance to ensure that DAO DAO's actions are aligned with the interests of Juno stakers. As an Official SubDAO, the Juno community will be able to change this arrangement at any time and shall remain the ultimate deciders on how the tokens should be distributed.

With some of the best developers in the Cosmos ecosystem working on DAO DAO, this swap will help align incentives between DAO DAO and the Juno community and accelerate future development. We hope that many protocols and DAOs will continue to use our tools and create value for the community.

What is $DAO?

The DAOs that rely on DAO DAO deserve a say in how DAO DAO works. $DAO gives you a voice in this DAO of DAOs. We give that voice to the contributors who build DAO DAO, and to the DAOs that use it.

$DAO won't pay dividends, and it doesn't entitle holders to the fruits of others' labor.

We envision DAO DAO as a DAO of DAOs. By giving $DAO to Juno, we invite Juno to become a member of DAO DAO. Through this swap, Juno will have a say in DAO DAO, and DAO DAO will have a say in Juno. This swap reflects the mutualistic relationship that already exists between Juno and DAO DAO; each supports the other.

Token Swap and Vesting Mechanics

In coordination with the Juno Growth Fund, we have created audited vesting contracts that any project on Juno can utilize.

This proposal will send 500,000 $JUNO to the JGF, who will then instantiate a new cw-vesting contract with the DAO DAO DAO as the recipient for the full amount to be vested linearly over a two-year period, with a start date matching the passing of this proposal. Upon the passing and successful execution of this proposal, the DAO DAO DAO will vote to vest 1,100,002.7 $DAO tokens linearly over a period of two years (also with a start date matching the passing of this proposal) to the Juno Growth Fund, who will manage the funds on behalf and under the direction of the community.

The Juno Growth Fund will be the admin and owner of the vesting contract and will also maintain temporary control over the $DAO tokens. As it is an Official Juno SubDAO, the Juno Community also has full control by proxy. Should for whatever reason DAO DAO fail to vest the 1,100,002.7 $DAO tokens, dissatisfy the community, or not live up to expectations, the Juno Community or Juno Growth Fund can vote to cancel payment of the remaining unvested $JUNO funds. In addition, the Juno Growth Fund will be able to stake vested $DAO tokens and vote to represent Juno's interests in the DAO DAO DAO.

Conditions for cancelation:

• DAO DAO delegates vested funds to its own validator
• DAO DAO stops developing new features
• DAO DAO radically changes its tokenomics in a way that the Juno Community is unhappy with
• The Juno community becomes displeased with DAO DAO for whatever reason

In the event of a dispute, Juno Community governance shall be the ultimate arbitrator.

Should DAO DAO launch a chain in the coming years (which it has no plans to do at the present moment), DAO DAO commits to an airdrop for $JUNO stakers during the incubation period for incubating DAO DAO.

Future $DAO Distributions

This will not be the only distribution to the Juno community. As noted in our $DAO Tokenomics blog post:

"In the future, we expect to perform token swaps with many DAOs. We imagine that those DAOs will frequently vote to distribute some or all of those $DAO tokens to their members. In that world, we expect the “airdrop” of $DAO tokens will be an ongoing, organic process."

In other words, to incentivize the creation of interesting DAOs on Juno, we will be swapping tokens with the best DAOs emerging on Juno (as determined by the DAO DAO DAO). Go forth and create!

Resources

• DApp
• Source Code
• $DAO Tokenomics
• Vesting Contract Audit Report
• Current Roadmap
• Juno Growth Fund review

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By voting YES you approve the $DAO <> $JUNO token swap as outlined above.

By voting NO you disapprove of the token swap as stated in this proposal.

By voting ABSTAIN you ABSTAIN from making a ruling.

By voting NO with VETO you express that you would like to see depositors penalized by revocation of their proposal deposit, and contribute towards an automatic 1/3 veto threshold.